If a Term Deposit Paid an Interest Rate of 24

question 13

Multiple Choice

If a term deposit paid an interest rate of 24% p.a.over the past six months,and the current balance is $1008,what was the amount initially invested?

• A)$812.90
• B)$681.08
• C)$900.00
• D)$975.00

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Definitions:

Promised Benefit Levels

The specific amount of benefits, often related to pensions or insurance, guaranteed to recipients based on a predetermined plan.

Trust Fund

A legal entity established to hold assets on behalf of a person or group, managed by a trustee.

Additional Government Borrowing

The process by which the government incurs more debt through issuing bonds or taking loans to finance its expenditure beyond its income.

Higher Taxes

Refers to increased charges imposed by governments on individuals or entities' income, activities, or transactions.